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Thursday, 8 May 2014

FEC says political committees can accept bitcoin donations

The Federal Election Commission today unanimously gave its approval for political committees to accept donations in bitcoin. In a 6-0 decision, the FEC said campaigns can accept BTC donations worth $100 or less, which currently works out to a fraction of a single bitcoin. Even with the $100 limit, it's a significant boost for the virtual currency and opens the door to bitcoin being embraced by PACs across the US. The commission says that committees should value BTC contributions "based on the market value of bitcoins at the time the contribution is received." The topic of bitcoin is one the FEC has been grappling with for some time.
Anyone kicking in bitcoin will need to submit their name, address, occupation, and employer according to a...Continue reading…